FHFA to make desktop appraisals permanent for purchases in 2022

[Zoe]

Yes I would do a Desktop or a 2055 for a Buyer/Seller/Home Owner but I would also tell him or her or It that it was worthless the day after I signed it because out here we are in uncharted territory. On a VA or FHA low down what good is an-appraisal accept for a lender to place it into there loan file and tell a regulator it came in at or close to Purchase Price-In low cost states people panic over a $10K low appraisal but out here no sales close where a value comes in below contract as sellers do not lower prices.

The Big Guys like Racketeer Mortgage are using algorithms and they know no matter what happens Appraised values will be of no good in a serious downturn. Therefore why pay for something that is not needed. Just-like us when Pop and Billy were younger and we were buying real estate we never needed or would depended on an-appraised value as we know they are only a picture of what happened yesterday.

Lol. I know a geo competent appraiser is better than any algorithm with interior and exterior. VA has proven it through downturns.

Why would people be moving from CA if they have so much cash?

 

[Zoe]

Yes I would do a Desktop or a 2055 for a Buyer/Seller/Home Owner but I would also tell him or her or It that it was worthless the day after I signed it because out here we are in uncharted territory. On a VA or FHA low down what good is an-appraisal accept for a lender to place it into there loan file and tell a regulator it came in at or close to Purchase Price-In low cost states people panic over a $10K low appraisal but out here no sales close where a value comes in below contract as sellers do not lower prices.

The Big Guys like Racketeer Mortgage are using algorithms and they know no matter what happens Appraised values will be of no good in a serious downturn. Therefore why pay for something that is not needed. Just-like us when Pop and Billy were younger and we were buying real estate we never needed or would depended on an-appraised value as we know they are only a picture of what happened yesterday.

Your getting in public trust realm now. You really are. And collusion and all sorts of bad avenues

 

[glenn walker]

Because

Lol. I know a geo competent appraiser is better than any algorithm with interior and exterior. VA has proven it through downturns.

Why would people be moving from CA if they have so much cash?

Because they are retired or close to it and they sell a house in Felony Flats for $600K to $900K and a good house in a better area at a Million to Three million. Last time I checked a $500K to $70K house in many parts of Tennessee is way bigger and nicer than a $2,000,000 home in Los Angeles or the Bay Area.

 

[ramrcdk]

CA: Burnin' Down The House !!! And 8+ other reasons to leave.
Isn't Everything Higher in CA?
Shady Builder-Agent, BITD in requesting the Contract & Option Charges, charged $2500 for their shi%%y fireplace where it was Free to the Locals. Asking the Shi%%y Agent "why", she said "cause those CA-ians are used to paying higher for everything. I was surprised by her honesty or ignorance. SO back-in-the-day I didn't & since haven't made adjustments for shi%%y fireplaces.

 

[Fernando]

Biden and Democrats want to raise highest income tax to 39.6%. CA is 13.3%. Then there are the other additional surcharges.
No wonder some rich people want to move out or don't make that much income. Then the populus would hate them because they don't work as hard.

 

[Mike Ault]

Biden and Democrats want to raise highest income tax to 39.6%. CA is 13.3%. Then there are the other additional surcharges.

The whole world wants to immigrate to Hollywood. It takes a lot of money to guard California's borders and keep it safe for Tesla drivers.

 

[Zoe]

Because

Because they are retired or close to it and they sell a house in Felony Flats for $600K to $900K and a good house in a better area at a Million to Three million. Last time I checked a $500K to $70K house in many parts of Tennessee is way bigger and nicer than a $2,000,000 home in Los Angeles or the Bay Area.

But Tennessee is not California. It’s nice if you like outdoors and Country living. It might be culture shock.

 

[Zoe]

If you like hunting and fishing and big site sizes a and maybe water views, TN is for you. For $2,000,000 money , you will get a deal. You can go from Smokey Mountains to lakes and rivers . You can get a hundred acres or more for $2,000,000 if you want it. House thrown in.

Water fronts are not cheap in some places and Mountain Views .

 

[Zoe]

2 million might not touch in some areas

 

[Zoe]

5 million likely in most areas on single family residential. It would not cover it all